bankruptcy lawyers Los Angeles

Bankruptcy And Business Arrangements

Call: 888-297-6203 The pandemic era has brought a lot of businesses under the weather. This has led to many small businesses moving towards bankruptcy. As per several research magazines, it was predicted that almost 33% of small businesses in the United States ended up halting their operations permanently or with an uncertain future. Loan forgiveness grants from the government probably protected the 66% of other small business units that were also on the brink of shutting down probably. Factors to consider while thinking of bankruptcy The factors associated with businesses are far more complex and intriguing. Expert guidance [...]

2025-08-25T12:26:22+00:00
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Let Us Know More About Bankruptcy Petition

Call: 888-297-6203 The first step when you file for bankruptcy is to complete the bankruptcy petition. The petition includes multiple forms that need details of all your debts, assets, incomes, and expenses. Once you file a petition the creditors are stopped from taking any more money from you. A petition can be filed for either Chapter 7 or chapter 13 bankruptcy. Chapter 13 will help you clear your debts where you can keep some of your assets, while chapter 7 will allow you to quickly clear your debts by selling your assets. It is advisable to talk to [...]

2023-06-05T12:59:19+00:00
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Let Us Know More Details About Bankruptcy

Call: 888-297-6203 Bankruptcy is a process wherein individuals, small businesses, and corporations are saved from their debts. Through a process of reorganization and restructuring, a certain portion of the debt is discharged and the rest is repaid at a lower rate. 1) Discharge Though most debts in bankruptcy can be discharged, certain debts are not dischargeable like taxes, penalties, child support, fines, student loans, and alimony payments. Discharging a debt helps the debtor to be protected from the harassment of the creditors. If a particular debt by a secured creditor is secured by a particular loan, they can [...]

2025-08-11T04:54:00+00:00
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How To Prepare For Your Bankruptcy?

Call: 888-297-6203 When an individual find themselves swimming in debt, it is then that they realize that bankruptcy is the only available option.  There is a list of do's and don'ts that you need to follow if you are planning to file for bankruptcy. 1) Don'ts If you think you might file for bankruptcy, never incur a new debt before filing. It might get difficult to discharge a debt that you might incur just before filing. Filing bankruptcy before a repossession or a foreclosure is a better option. Failing to do so might result in permanent loss of [...]

2025-08-08T05:40:27+00:00
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Read Chapter 7 Bankruptcy Exemptions

Call: 888-297-6203 People who are filing for bankruptcy do not make their decision lightly as it will affect them severely. They file because they are in an extreme financial crisis and want a new start but especially in chapter 7 bankruptcy case they fear losing all their assets to the court in return for their discharge of debts. This is the reason there is a bankruptcy law for exemptions that is properties that are necessary for a person to start fresh after the bankruptcy case is exempted. Assets like a car, home, furniture, etc are exempt properties. Chapter [...]

2025-08-06T07:20:53+00:00
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Bankruptcy And Taxes

Call: 888-297-6203 In most cases, tax debt is still to be paid by the debtor even after they have filed for bankruptcy but there are some circumstances where it can get discharged. It is highly unlikely for a tax debt to be discharged when filing for chapter 13 as tax debt with other types of debts comes under the repayment plan but on the other hand when filing for chapter 7, debts like medical bills, credit card debt and sometimes federal tax debt is also discharged. Should I file for bankruptcy for tax debt? Some types of tax [...]

2023-05-30T13:14:26+00:00
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Know Everything About Chapter 7 Bankruptcy For LLC

Call: 888-297-6203 If your limited liability company (LLC) is facing financial issues due to business debts, filing for Chapter 7 bankruptcy can be a good option. When LLC files for bankruptcy, the business assets are liquidated by the trustee to repay the creditors. Filing a bankruptcy petition puts an automatic stay in place, and the business stops operating. The company's assets are liquidated and distributed among creditors as per the U.S. Bankruptcy Code. All collection attempts made by the creditors are stopped with the automatic stay in place. Unfortunately, when any small business files for bankruptcy, no property [...]

2025-08-11T05:02:10+00:00
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What Happens In Bankruptcy Means Test?

Call: 888-297-6203 While filing for bankruptcy it is important to note that federal and state laws provide exemptions that allow bankruptcy filers to keep some amount of property to start their life afresh. Individuals who file for bankruptcy prefer to opt for Chapter 7 bankruptcy. This is primarily because you get a discharge within 4 to 6 months without paying for anything. Chapter 7 bankruptcy is meant for filers with little to no income and most of their property is exempted. However, there are stringent laws for filing for Chapter 7 bankruptcy. The Bankruptcy Means Test is used [...]

2025-08-25T12:52:39+00:00
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Can Lawsuit Judgments Be Cleared By A Bankruptcy Filing?

Call: 888-297-6203 People struggling with debts often take refuge by filing for bankruptcy. While bankruptcy offers a chance to get rid of many types of debts, some debts may not be discharged even after getting a bankruptcy discharge. Lawsuit judgment may or may not be discharged depending on certain factors. Non-payment of dues often results in creditors filing a breach of contract in the court. Most of the unsecured debts like credit cards, medical bills, or personal loans might get discharged in bankruptcy. However, not responding to a creditor’s lawsuit can result in a default judgment against you. [...]

2025-08-25T12:50:29+00:00
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Understanding Different Aspects Of Chapter 7 Bankruptcy

Call: 888-297-6203 If you are contemplating filing for bankruptcy, there are certain elements of chapter 7 that you should know about. Understanding these terms becomes helpful if you choose to file for bankruptcy. The bankruptcy trustee and their role After a Chapter 7 bankruptcy petition is filed, the bankruptcy court appoints an impartial case trustee to administer the case. Their role is to examine your assets and help in the liquidation of your non-exempt property. Your property is liquidated if it is free, does not have any liens attached to it, and is worth more than the security [...]

2025-08-25T12:52:08+00:00
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PAID ATTORNEY ADVERTISEMENT: Wajda & Associates is a law firm. This website is an advertisement. It is not a lawyer referral service or prepaid legal services plan. Each of the lawyers on this site are either Managers, Members, Partners, Limited Partners or staff attorneys. An attorney responsible for the content of this Site is Nicholas Wajda, APC. licensed in California, Texas, and Indiana with offices at 309 W 11th Street Anderson, IN 46016. To see the attorney in your area who is responsible for this advertisement, please  Click here.  Prior results do not guarantee a similar outcome.
We are a debt relief agency. We help people file bankruptcy petitions to obtain relief under the bankruptcy code.